Arizona Real Estate License Practice Exam 2025 - Free Real Estate Practice Questions and Study Guide

When a person buys a condo, they typically hold title to the common ground as a tenant in common. This means that all condo owners have an undivided interest in the common areas of the property, such as pools, hallways, and lobbies. Each owner has the right to use the common areas, and their ownership interests are proportional to their share of the overall property.

Tenancy in common is a common form of ownership for condominiums because it allows for the shared use and benefit of communal spaces while also providing the individual owners with the ability to sell or transfer their interest in the property independently without needing consent from other owners. This arrangement ensures that while individual units are owned separately, the common elements are owned collectively, promoting harmony and cooperation among the condo owners in managing these shared spaces.

In contrast, sole and separate ownership refers to owning property individually without any partnership, which does not apply to shared common areas. Joint tenancy involves a right of survivorship and is typically used when two or more people wish to own property together with equal shares, which doesn't reflect the common ownership model in condominiums. Community property is specific to married couples and involves property acquired during the marriage, which is not applicable in this context of individual condo